EQS-Adhoc: INDUS Holding AG adjusts its guidance for the 2026 financial year

INDUS Holding AG adjusts its guidance for the 2026 financial year

Bergisch Gladbach, 30 April 2026 – The Board of Management of INDUS Holding AG today adjusted its guidance for the 2026 financial year in light of an exceptional development in the Materials Solutions segment. Due to the persistently tight supply situation and the resulting extreme price increase for tungsten carbide, the largest company in the Materials Solutions segment is recording a very strong, price-driven increase in revenue. In particular, Chinese export restrictions coupled with high global demand have led to a tripling of the price since the beginning of 2026—following an initial tripling during the course of 2025. This results in an upward revision of the guidance ranges for Group revenue and adjusted EBITA.

In this context, the Board of Management now expects the following for the INDUS Group in financial year 2026:

• Revenue: EUR 1.85 to 2.05 billion (previously: EUR 1.80 to 1.95 billion)
• Adjusted EBITA: EUR 160 to 190 million (previously: EUR 150 to 170 million)
• Adjusted EBITA margin: 8.0 to 10.0% (previously: 7.5 to 9.5%)

At the same time, securing the supply of raw materials requires a significant increase in working capital, leading to a substantially higher need for pre-financing. As a result, the Board of Management is adjusting its free cash flow guidance for 2026 to at least break-even (previously: >EUR 70 million). For the Materials Solutions segment, a strong increase in revenue and income is now expected (previously: moderately increasing revenue and strongly decreasing income).

The Board of Management has made the conscious decision to maintain the supply capacity of the portfolio company affected by the special development described above, within the limits of the Group’s financial capabilities, in this exceptionally tight raw materials environment. This contributes to securing ongoing business operations and enables the responsible exploitation of market opportunities.

The effects of this development are expected to be reflected in the results for the first quarter of 2026, which are still preliminary at the time of this infomation:

• Revenue: EUR 441.6 million (Q1 2025: EUR 402.4 million)
• Adjusted EBITA: EUR 42.5 million (Q1 2025: EUR 24.9 million)
• Adjusted EBITA margin: 9.6% (Q1 2025: 6.2%)

Working capital has risen strongly compared to the figure at the end of 2025, partly due to seasonal factors and partly due to the price increase for tungsten carbide; this results in an expected free cash flow of -74.1 million EUR (Q1 2025: -23.6 million EUR).

The Engineering and Infrastructure segments have performed in line with the existing guidance.

Further developments over the course of the year depend significantly on the ongoing price and supply situation for tungsten carbide and are subject to considerable uncertainty; changes in market price levels may have a corresponding impact later in the year.

The interim report for the first quarter of 2026 will be published as planned on May 12, 2026.

Adjusted EBITA is calculated by adding back PPA amortization and impairment to EBIT, and subtracting any reversals of impairment losses. For further details, please refer to page 58 of the Company’s 2025 Annual Report.

Note:
This press release contains forward-looking statements. These statements are based on the current views, expectations and assumptions of the management of INDUS Holding AG and comprise known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. INDUS Holding AG assumes no obligation to update forward-looking statements.

2319252  30-Apr-2026 CET/CEST